Cologix is to raise funds through a $1.1 billion securitization.

Asset Securitization Report says the company is preparing to issue Asset-Backed Security (ABS) notes using revenue from 17 properties as backing.

Deutsche Bank Securities is the sole structuring advisor and joint bookrunner on the transaction, according to filings with the Kroll Bond Rating Agency (KBRA). The transaction will issue notes through four classes. The deal reportedly benefits from credit enhancement from over-collateralization, subordination, a senior interest reserve account, and excess spread.

The 17 data centers total almost 300,000 sq ft (27,900 sqm) of space and 36.6MW, and serve more than 1,000 customers. In total, Cologix operates 37 data centers across the US and Canada.

The company is yet to make any announcement about the securitization.

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